Phoenix Shipping appoints new CFO, former CFO remains director

Phoenix Shipping Group (Wuhan) Co., Ltd. announced the resignation of Ms. Zhao Qiulang from her roles as deputy general manager and chief financial officer, effective immediately. Ms. Zhao will continue to serve as a director. The company's Ninth Board of Directors approved the appointment of Mr. Wang Guozheng as the new chief financial officer. Mr. Wang brings extensive experience, having previously served as financial manager and CFO in various companies since 2001.

In related news, the board also approved a guarantee for its wholly-owned subsidiary, Shanghai Huatai Shipping Co., Ltd., for a RMB 10,000,000 working capital credit line with the Bank of China. This guarantee is subject to shareholder approval due to Shanghai Huatai Shipping's asset-liability ratio exceeding 70%. The company reassured that this guarantee, along with the leadership changes, is not expected to negatively impact operations or shareholder interests. These matters will be brought before the first extraordinary general meeting of 2025 on September 22, 2025.